Equities researchers at Needham & Company LLC initiated coverage on shares of Altair Engineering (NASDAQ:ALTR) in a note issued to investors on Monday, The Fly reports. The firm set a “buy” rating on the semiconductor manufacturer’s stock.
Other equities analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Altair Engineering from a “hold” rating to a “sell” rating in a report on Friday. Canaccord Genuity lifted their price target on shares of Altair Engineering from $25.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday. Royal Bank of Canada lifted their price target on shares of Altair Engineering to $29.00 and gave the stock a “sector perform” rating in a report on Monday, March 12th. They noted that the move was a valuation call. JPMorgan Chase & Co. lifted their price target on shares of Altair Engineering to $34.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Berenberg Bank assumed coverage on shares of Altair Engineering in a report on Tuesday, January 30th. They set a “buy” rating and a $33.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. Altair Engineering presently has an average rating of “Hold” and a consensus target price of $31.83.
Shares of Altair Engineering (ALTR) traded up $1.81 during trading on Monday, reaching $32.12. 331,997 shares of the company’s stock were exchanged, compared to its average volume of 264,012. Altair Engineering has a 1 year low of $16.55 and a 1 year high of $33.38.
Several large investors have recently modified their holdings of ALTR. Bamco Inc. NY acquired a new position in shares of Altair Engineering during the fourth quarter worth $50,245,000. BlackRock Inc. acquired a new position in Altair Engineering in the fourth quarter valued at $16,950,000. Eaton Vance Management acquired a new position in Altair Engineering in the fourth quarter valued at $14,402,000. Driehaus Capital Management LLC acquired a new position in Altair Engineering in the fourth quarter valued at $13,099,000. Finally, Citadel Advisors LLC acquired a new position in Altair Engineering in the fourth quarter valued at $8,972,000. Institutional investors own 20.51% of the company’s stock.
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About Altair Engineering
Altair Engineering Inc is a United States-based software company. The Company is focused on developing engineering software and computing technologies. The Company’s products include HyperWorks, solidThinking, PBS Works, and Carriots. The Company offers a range of solutions such as product engineering, industrial design, and tailored solutions.
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